Managing a family business isn't like anything you see on sitcoms. In between the wacky shenanigans and life
lessons you and your family members will be working hard to make your business
succeed, and unfortunately it isn't uncommon for some family business owners
and works to feel stressed out and overwhelmed.
Every family business manager from Rupert Murdoch to Alexander F Bouri
has had to deal with the unique problems that come along with owning a family
business, and there are ways you can have a successful business and have a
happy family. You'll find a lot of
information online about how to run the perfect family business, but when it
comes down to it there are only a few essential rules that you need to remember.
Never force a family member to work
When you envision your family business you probably saw each of your
family members happily and eagerly working together, but in reality there may
be some family members who aren't thrilled to be a part of the business. You'd like to have as many of your kids,
cousins, and extended family members work with you as possible, but it's very
possible that some family members don't share your business vision. You should offer all of your family members a
job, but you shouldn't force them to work with you.
Don't feel pressured to hire family members
Your uncle Lance is always great at family get-togethers and never
forgets your birthday, but when it comes to holding down jobs your beloved
uncle still has a long way to go. When
he hears about your newest family business venture he may insist on being a
part of it, but you shouldn't feel pressured to hire him. Sometimes every family member won't be
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